important or anything, it’s just that you don’t have to worry about it as much as your regular crypto holdings.
PayPal recently released their new stablecoin, PayPal USD, with the ticker symbol PYUSD. This coin is fully transparent, and some of the most interesting features are its ability to freeze and unfreeze user accounts. Supply is centrally controlled by a Supplycontroller, which has the power to freeze accounts and burn the coins associated with those accounts. This feature could be expected to be included in Central Bank Digital Currencies (CBDCs) as well.
If you don’t want to read the entire source code, here’s an interesting section which outlines some of the features: https://preview.redd.it/xghg9rt2ergb1.png?width=1832&format=png&auto=webp&s=5dc13c24757ecced8ecfd712bd522741b084bbc6 [deleted]
Given PayPal’s ability to freeze user funds, it’s not surprising that their own crypto would be centrally controlled. Stablecoins are not decentralized like other cryptos, and are essentially just a digital version of fiat money. They can be used to quickly transfer funds, but it is important to note that it is still important to remain careful with your crypto holdings.
Stablecoins have become increasingly popular in recent years, as they provide users with the ability to quickly and securely transfer funds without worrying about the volatility of other cryptos. Although they can be a useful tool for making payments, it is important to remember that they are centrally controlled and could be subject to freezing. As such, it is important to be aware of the risks associated with holding and using stablecoins.